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Deals & Dealmakers

Lightstone Capital funds acquisition of Villa Ana Apartment Complex in Houston

 Lightstone Capital, Lightstone’s real estate debt platform, announced today that it has provided a $14.75 million first mortgage to finance the acquisition and renovation of Villa Ana, a 176-unit apartment complex in Houston, TX.

Lightstone Capital provides sponsors with flexible, creative, and immediate financing solutions. Loans range in size from $5 million up to $100 million and are secured by real estate assets located in gateway markets. 

The garden-style apartment property, built in 1979, is located at 10101 W. Sam Houston Parkway, in southwest Houston and in the Alief submarket of the city.  Villa Ana is near the intersection of SW Freeway (IH-69) and the Sam Houston Tollway. It is close to major employment centers and near the Westwood Golf Club.

The deal was brought to Lightstone Capital by Jim Richards, an Executive Vice President in CBRE’s Houston office. It was handled in Lightstone Capital’s Dallas office, which is led by Lance Wright, Managing Director, Head of Originations, Central Region. Opened one year ago, the Dallas office covers the Southwest, Southeast, and Midwest regions of the country. 

“This transaction is typical of what we can do at Lightstone Capital,” said Eugene Rozovsky, Senior Managing Director of Lightstone Capital. “We worked closely with all parties to simplify the process and closed it in about 30 days.”

Lightstone Capital focuses primarily on senior bridge loans, mezzanine loans, and preferred equity investments throughout the top 50 MSA’s in the United States. Since it launched in December 2018, Lightstone Capital has grown rapidly, developing a significant portfolio throughout the nation.  In addition to its Dallas office, Lightstone Capital expanded by opening an office in Los Angeles in 2021.

The Houston transaction follows other deals closed recently by Lightstone Capital, such as:

  • $52 million mortgage to refinance a two-building office portfolio located in the midtown south submarket of New York City, NY (March 2022)
  • $49 million mortgage to refinance a land lot and a newly constructed multifamily property in Santa Monica, CA (March 2022)
  • $27 million mortgage to refinance a fully leased industrial property in Vernon, CA in the Los Angeles MSA (February 2022)
  • $12 million mortgage to refinance the expansion of green building product manufacturing facilities in Commerce, TX, and Hazelton, PA (December 2021).
  • $11.8 million senior loan to finance the acquisition of a multifamily property in San Antonio, TX (December 2021).
  • $13.6 million senior loan to refinance a 10-building multifamily portfolio in Brooklyn, NY (December 2021).
  • $26.5 million senior loan to refinance a substantially completed commercial property in Queens, NY (November 2021).
  • $9.3 million senior loan to refinance a boutique hotel property in Venice Beach, CA (October 2021).
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